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A tax-exempt municipal bond has a yield to maturity of 3.88%. An investor, who has a marginal tax rate of 17.00%, would prefer and an
A tax-exempt municipal bond has a yield to maturity of 3.88%. An investor, who has a marginal tax rate of 17.00%, would prefer and an otherwise identical taxable corporate bond if it had a yield to maturity of more than % Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) A stock just paid a dividend of $1.37. The dividend is expected to grow at 27.96% for two years and then grow at 4.98% thereafter. The required return on the stock is 11.22%. What is the value of the stock? Submit Answer format: Currency: Round to: 2 decimal places
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